Key Developments: Mitsubishi Heavy Industries Ltd (MHVYF.PK)
7.44USD
12:14pm EDT
$0.21 (+2.90%)
$7.23
$7.15
$7.44
$7.15
6,600
845
$7.44
$3.80
Latest Key Developments (Source: Significant Developments)
Mitsubishi Heavy Industries Ltd to Issue Year-end Dividend for FY 2013
Mitsubishi Heavy Industries Ltd announced that it has decided to issue a year-end dividend of JPY 5 per share, in line with the latest dividend forecast of JPY 5 per share, disclosed on April 26, 2013, to all the shareholders of record as of March 31, 2013, effective June 27, 2013. Full Article
United Technologies Corp Completes Divestiture Of Pratt & Whitney Power Systems Unit To Mitsubishi Heavy Industries Ltd
United Technologies Corp announced that it has completed the divestiture of its Pratt & Whitney Power Systems unit to Mitsubishi Heavy Industries Ltd (MHI) . Terms of the agreement were not disclosed. Divesting Power Systems allows UTC to focus on its core aerospace and commercial businesses. Pratt & Whitney has entered into a long-term agreement with MHI under which Pratt & Whitney will provide certain engineering and manufacturing services to MHI in connection with the development of the FT4000, Power Systems' next-generation industrial gas turbine. Under the long term agreement, P&W has also agreed to provide GG8 turbines to MHI. Pratt & Whitney is a world leader in the design, manufacture and service of aircraft engines, auxiliary and ground power units and small turbojet propulsion products. United Technologies Corp., based in Hartford, Connecticut, is a diversified company providing high technology products and services to the building and aerospace industries. Full Article
Mitsubishi Heavy Industries Ltd Announces Lathes Servicing Transferred to Sanpo Seiki Co., Ltd.- ENP Newswire
ENP Newswire reported that Mitsubishi Heavy Industries Ltd announced that it has concluded an agreement under which after-sale servicing of the Company’s lathes has been wholly transferred to Sanpo Seiki Co., Ltd., a Yokohama-based provider of machine tool modification and maintenance services. The transfer, which includes specification drawings, is aimed at maintaining a high level of services, including performance enhancement, to users of lathes that were manufactured by the Company. Full Article
Mitsubishi Heavy Industries Ltd Raises Year-end Dividend Forecast for FY 2013
Mitsubishi Heavy Industries Ltd announced that it has raised the year-end dividend forecast from JPY 3.00 per share to JPY 5.00 per share for the fiscal year ended March 2013. Full Article
Mitsubishi Heavy Industries Ltd Amends Consolidated Full-year Forecast for FY 2013
Mitsubishi Heavy Industries Ltd announced that it has lowered the consolidated full-year forecast for revenue from JPY 3,000,000 million to JPY 2,817,800 million but raised the forecast for operating profit from JPY 145,000 million to JPY 163,500 million, ordinary profit from JPY 120,000 million to JPY 149,000 million, net profit from JPY 70,000 million to JPY 97,300 million and earning per share from JPY 20.86 to JPY 29.00 for the fiscal year ended March 31, 2013. The Company lowered the consolidated full-year outlook for revenue due to the downturn in economy and the aggravated order environment. Full Article
Mitsubishi Heavy Industries Ltd Announces Appeal of Lawsuit-Yomiuri Shimbun
Yomiuri Shimbun reported that Hitachi Zosen Corp, TAKUMA CO LTD, Kawasaki Heavy Industries Ltd and Mitsubishi Heavy Industries Ltd have filed an appeal against a sentence for a lawsuit, which was filed by Atami City against five companies including the four companies, claiming compensation of approximately JPY 511.90 million for unjust contract price on waste treatment facility construction works. According the sentence by Tokyo High Court, the five companies were requested to pay a compensation of JPY 315 million. Full Article
Mitsubishi Heavy Industries Ltd Expands Local Production of Machine Tools in China-ENP Newswire
ENP Newswire reported that Mitsubishi Heavy Industries Ltd has expanded local production at its machine tool plant in Changshu, Jiangsu Province, China. The Company has opted to expand the local production portfolio to include the MVR Series of double-column, 5-face milling machines and the SE Series gear shaping machines, in addition to the current GE Series gear hobbing machines. Full Article
Dalian Refrigeration Co Ltd to Set up Joint Venture with Mitsubishi Heavy Industries Ltd
Dalian Refrigeration Co Ltd announced that it will set up a joint venture with Mitsubishi Heavy Industries Ltd. The joint venture capitalized at RMB 80 million will be engaged in research, development, purchase, manufacture and sale of centrifugal refrigerating units as well as provision of after-sales services. The Company and Mitsubishi Heavy Industries will hold a 45% stake and a 55% stake in the joint venture, respectively. Full Article
Mitsubishi Heavy Industries Ltd, Areva SA Have Won Turkish Nuclear Plant Deal-Reuters
Reuters reported that Mitsubishi Heavy Industries Ltd and Areva SA have won an order to build Turkey's second nuclear power plant, a project that is expected to cost some $22 billion, the Nikkei business daily said. Turkey's Energy and Natural Resources Ministry has informed Japanese government and corporate officials of the decision to award the deal to build four nuclear reactors with a total capacity of about 4.5 gigawatts at Sinop on the Black Sea, the report said. Full Article
Mitsubishi Heavy Industries Ltd Announces Appeal to Court of Instance
Mitsubishi Heavy Industries Ltd announced that in the matter of the suit filed by Mitsubishi Heavy Industries, Ltd. (MHI) against General Electric Company (GE) seeking compensation for damages, etc. for alleged infringement of one of MHI's U.S. patents by GE's wind turbines, on February 8, 2013 (U.S. Eastern Standard Time) the United States District Court for the Middle District of Florida (M.D. Fla.) upheld its previously issued summary judgment and declared its finding that no patent infringement had occurred. The Company disagrees with the judgment and has appealed with the United States District Court for the Middle District on March 7, 2013. Full Article
UPDATE 3-Turkey denies any decision on second nuclear plant
* Investment in Black Sea plant seen at $22 billion-report (Adds Turkish minister denial, changes dateline)
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